Other transactions that had no effect on the composition of the Group

Deutsche Telekom AG’s shareholder remuneration

In October 2024, the Board of Management announced plans to buy back further Deutsche Telekom AG shares up to a total purchase price of EUR 2 billion in the 2025 financial year as part of a share buy-back program. The buy-back commenced on January 3, 2025 and will be carried out in several tranches through December 31, 2025. In the period from January 3, 2025 to September 30, 2025, Deutsche Telekom AG bought back around 47 million shares with a total volume of around EUR 1.5 billion under the share buy-back program. The approximately 81 million shares bought back under the 2024 program were canceled on August 19, 2025, reducing Deutsche Telekom AG’s share capital by around EUR 208 million.

In the period from October 1, 2025 to November 11, 2025, Deutsche Telekom AG bought back around another 10 million shares with a total volume of around EUR 0.3 billion under the share buy-back program.

T‑Mobile US’ 2025 shareholder return program

On December 13, 2024, T‑Mobile US announced a further shareholder return program of up to USD 14 billion until December 31, 2025. The program comprises share buy-backs and dividends to be paid out. The amount available for share buy-backs is reduced by the amount of any dividends approved by the Board of Directors of T‑Mobile US.

In the first nine months of 2025, T‑Mobile US bought back around 30 million shares with a total volume of USD 7.4 billion (EUR 6.6 billion) under this program, and paid out cash dividends amounting to USD 3.0 billion (EUR 2.8 billion). EUR 1.5 billion of the cash dividends was attributable to Deutsche Telekom’s stake and EUR 1.3 billion to non-controlling interests in T‑Mobile US. On September 18, 2025, T‑Mobile US announced that the Board of Directors had declared a cash dividend of USD 1.02 per share, which will be paid out on December 11, 2025.

For further information on the overview of dividend payments attributable to non-controlling interests in T‑Mobile US, please refer to the section “Shareholders’ equity.”

Sale of T‑Mobile US shares by Deutsche Telekom

Since June 12, 2025, Deutsche Telekom has been selling portions of its T‑Mobile US share portfolio on the market, without jeopardizing its own majority ownership position. The sales plan ended on September 10, 2025. During this period, Deutsche Telekom sold around 4.3 million T‑Mobile US shares with a total volume of EUR 0.9 billion. On September 11, 2025, a further sales plan commenced with terms ending in the fourth quarter of 2025. This plan provides Deutsche Telekom with the flexibility to sell up to 5 million additional T‑Mobile US shares. As of September 30, 2025, Deutsche Telekom had sold a total of around 5.2 million T‑Mobile US shares with a total volume of EUR 1.1 billion.

In the period from October 1, 2025 to November 11, 2025, Deutsche Telekom sold around another 1 million T‑Mobile US shares with a total volume of EUR 0.3 billion.

As of September 30, 2025, Deutsche Telekom’s stake in T‑Mobile US amounted to 45.7 %. Taking the treasury shares held by T‑Mobile US into account, Deutsche Telekom had a 52.1 % ownership stake in T‑Mobile US as of September 30, 2025. The shares in T‑Mobile US held by SoftBank are subject to the proxy agreement between SoftBank and Deutsche Telekom. The total percentage of T‑Mobile US shares for which Deutsche Telekom can exercise voting rights, based on the agreement concluded with SoftBank in connection with the acquisition of Sprint, amounted to 56.2 % as of September 30, 2025.

Change in taxation laws in the United States

On July 4, 2025, U.S. President Donald Trump signed the One Big Beautiful Bill Act (the “OBBBA”) into law. This Act includes numerous changes to existing tax law, including provisions regarding depreciation and amortization of certain assets, limitations on interest deductions, and the deductibility of research and development expenditure. These provisions became effective beginning in 2025, and are expected to result in a partial deferral of income tax payments to future periods. They are currently not expected to have a material impact on our net profit. We will, however, continue to assess the impact of changes to tax legislation arising from OBBBA on our consolidated financial statements.

Change in taxation laws in Germany

On July 11, 2025, the Bundesrat adopted the draft law for an immediate tax investment program to strengthen Germany as a business location. The law entered into force on July 19, 2025 and provides, among other things, for the introduction of a declining-balance depreciation allowance for certain assets as well as a gradual reduction of the corporate income tax rate from 2028. In connection with the improved depreciation framework, a partial deferral of income tax payments to future periods is to be expected. The reduction in the tax rate triggered a remeasurement of deferred tax assets and deferred tax liabilities in the third quarter of 2025. This did not result in a material impact on net profit.